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Exclusive Buyer Brokerage Agreement
"I need an Exclusive Buyer Brokerage Agreement for a multinational tech company seeking to acquire commercial property in Lagos, Nigeria, with specific provisions for virtual property viewings and multi-currency transactions, to be effective from March 2025."
1. Parties: Identifies and provides full details of the buyer (principal) and the brokerage firm (agent)
2. Background: Explains the context of the agreement and the buyer's intention to engage the broker
3. Definitions: Defines key terms used throughout the agreement including 'Exclusive Period', 'Property Requirements', and 'Brokerage Services'
4. Appointment and Scope: Establishes the exclusive appointment of the broker and details the scope of services to be provided
5. Term and Termination: Specifies the duration of the exclusive agreement and conditions for termination
6. Broker's Obligations: Details the duties and responsibilities of the broker including property search, negotiations, and professional conduct
7. Client's Obligations: Outlines the buyer's responsibilities including providing accurate requirements and cooperating with the broker
8. Compensation: Specifies the broker's fees, payment terms, and circumstances under which compensation becomes due
9. Confidentiality: Addresses the handling of confidential information shared during the engagement
10. Exclusivity Provisions: Details the terms of exclusivity and consequences of breach
11. Governing Law and Jurisdiction: Specifies Nigerian law as governing law and defines jurisdiction for dispute resolution
1. Protection Period: Defines a period after termination during which the broker remains entitled to compensation - include when working with sophisticated clients or high-value properties
2. Virtual Services: Specifies terms for virtual property viewings and online services - include when offering digital services
3. Multiple Currency Provisions: Addresses payment in multiple currencies - include for international clients
4. Force Majeure: Covers unforeseeable circumstances preventing performance - include in volatile markets or uncertain conditions
5. Anti-Money Laundering Compliance: Details AML compliance requirements - include for high-value transactions or with corporate clients
6. Assignment Rights: Addresses the right to assign the agreement - include when working with corporate clients
1. Schedule 1: Property Requirements: Detailed specification of the client's property requirements including location, size, budget, and essential features
2. Schedule 2: Fee Structure: Detailed breakdown of all applicable fees, commission rates, and payment terms
3. Schedule 3: Scope of Services: Comprehensive list of services to be provided by the broker
4. Appendix A: Required Documents: List of documents required from the client for proper representation
5. Appendix B: Broker's Credentials: Copies of broker's licenses, certifications, and professional memberships
6. Appendix C: Agency Disclosure: Standard agency disclosure form as required by Nigerian real estate regulations
Authors
Real Estate
Property Development
Commercial Property
Residential Property
Retail
Industrial
Hospitality
Healthcare
Education
Banking and Finance
Professional Services
Real Estate
Legal
Compliance
Finance
Operations
Risk Management
Facilities Management
Corporate Services
Procurement
Business Development
Investment
Real Estate Broker
Property Acquisition Manager
Real Estate Agent
Legal Counsel
Property Manager
Facilities Manager
Real Estate Director
Chief Financial Officer
Investment Manager
Asset Manager
Corporate Real Estate Manager
Compliance Officer
Risk Manager
Business Development Manager
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